Internet Banking Standard agreed by Microsoft & Intuit

Rohit Khare (
Fri, 17 Jan 1997 09:56:52 -0500

Not clear what the technical details are -- won't be released until Monday
20th. The whole Hebron peace agreement thing must have been infectious,

It also links up with the Integrion IBM-led bank consortium, a competitor
to the FSTC BIPS project.


> From: The Old Bear <>
> To: Digital Commerce Society of Boston <>
> Subject: Internet Banking Standard agreed by Microsoft & Intuit
> Date: Friday, January 17, 1997 9:14 AM
> Microsoft and Intuit Inc. have teamed up with Atlanta-based
> CheckFree Corp. to devise and promote a single standard for
> banking over the Internet.
> The Open Financial Exchange standard seeks to establish rules
> for exchanging financial data among financial institutions,
> businesses and consumers over the Internet. Both Microsoft
> and Intuit will modify their competing personal-finance
> programs to adhere to the new standard.
> Conflicting standards have been cited as one reason that online
> banking hasn't really caught on with consumers and financial
> institutions. "The banks are saying we don't want to have all
> of these choices," says an industry consultant.
> source: Wall Street Journal
> January 16, 1997
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